CIBC Asset Management Strengthens Resource Investment Capabilities

Scott Vali joins investment team and will assume management of resource-based funds

TORONTO, Aug. 11, 2014 /CNW/ - CIBC Asset Management Inc. (CAM) today announced the expansion of its portfolio management team and capabilities with the addition of resource manager Scott Vali.

Mr. Vali joins CAM as Vice President Equities, Portfolio Manager. He will be lead manager for CIBC Precious Metals Fund, CIBC Canadian Resources Fund, CIBC Energy Fund and Renaissance Global Resource Fund as CAM assumes portfolio management responsibilities for those funds effective August 11, 2014. Lawrence Smith, Vice President Equity Research, Mining Specialist will co-manage the CIBC Precious Metals Fund and Brian See, Vice President Equity Research, Energy Specialist will co-manage the CIBC Energy Fund.

"We are very pleased to have Scott on our team and to be broadening our capabilities in an important segment of the investment landscape," says Steve Geist, President and CEO, CIBC Asset Management. "This significantly strengthens our resource-based offer to Canadian retail investors as well as creates expanded opportunities for our institutional clients globally."

"Scott's addition complements our already significant research coverage in the global resource space," adds Suzann Pennington, Chief Investment Officer, CIBC Asset Management. "We are dedicated to rigorous internal research for our clients and Scott will be joining a very experienced team of resource specialists."

Mr. Vali has over 13 years portfolio management experience with a demonstrated track record of outperformance, including a decade as a lead manager of major resource investment mandates. Prior to joining CAM, Mr Vali was Vice President, Portfolio Manager with CI Investments.

About CIBC Asset Management
CIBC Asset Management (CAM), the asset management subsidiary of CIBC, provides a range of high-quality investment management services and solutions to retail and institutional investors. CAM's offerings include: a comprehensive platform of mutual funds, strategic managed portfolio solutions, discretionary investment management services for high-net-worth individuals, and institutional portfolio management. CAM is one of Canada's largest asset management firms, with over $100 billion in assets under management as of June 30, 2014.

SOURCE: Canadian Imperial Bank of Commerce